Australia-based Gulf Resources has completed the acquisition of Namekara mining operations in Uganda from Rio Tinto.
The Namekara project is considered one of the largest vermiculite mineral deposits in the world.
It is situated 190km east of the Ugandan capital, Kampala.
Gulf will invest $500,000 working capital in the project over the next 12 months to produce 8,000t per year.
The company has plans to further expand the project to produce 25,000t per year by 2012.
By staff writer